
Report ID: UCMIG10F2014
Report ID:
UCMIG10F2014 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
In 2022, the global underground gas storage market was valued at approximately 468.20 billion cubic meters (BCM). Projections suggest that this market is poised for growth, with an anticipated compound annual growth rate (CAGR) of 2.5% from 2023 to 2030. This expansion is driven by several factors, including the increasing demand for natural gas as a cleaner energy source, the need for energy security and flexibility, and the rising adoption of underground gas storage facilities across various industries. As the global energy landscape continues to evolve, underground gas storage facilities play a crucial role in maintaining a stable supply of natural gas, mitigating price volatility, and ensuring reliable energy access for consumers and businesses alike.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Oil & Gas Storage & Transportation by segment aggregation, the contribution of the Oil & Gas Storage & Transportation in Energy Fuel and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIG10F2014